New South Wales Consolidated Acts

PUBLIC FINANCE AND AUDIT ACT 1983 - SECT 27AA

27AA Content of Budget Papers

(1) The budget aggregates relating to the general government sector are to be for a 6-year period comprising the Budget year, the 2 prior years and the 3 forward years.

(2) The Budget Papers are to include the following:

(a) a Budget policy statement that includes information on the following matters:

(i) an assessment of progress achieved against the fiscal targets and fiscal principles of the Fiscal Responsibility Act 2005 ,

(ii) a projection of the ability to achieve those fiscal targets in the future and to progress the achievement of those fiscal principles,

(iii) 4-year projections (being for the Budget year and 3 forward years) of all major economic and financial variables,

(b) revised estimates for the year prior to the budget year, and an explanation of any significant variations in major aggregates from the Budget estimates for that year, for the general government sector,

(c) information about the results and services and total expenses of each service group,

(d) financial statements prepared in accordance with the Uniform Presentation Framework,

(e) the following financial statements:

(i) a statement of financial position for the general government sector,

(ii) an operating statement for the general government sector,

(iii) a cash flow statement for the general government sector.

(3) The Budget Papers may include any other matters.

(4) In this section, "Uniform Presentation Framework" means the framework for financial reporting:

(a) that is based on reporting conventions for the time being of the Australian Bureau of Statistics for its GFS reporting, and

(b) that is agreed by the Australian Loan Council from time to time.